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National mortgage rates for Jan. 3, 2013

Polyana da Costa

Interest Rate Roundup

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Mortgages

  • 3.58% (30-year fixed)
  • 0.35 (average points)

Mortgage rates barely changed this week as Congress reached a last-minute deal to avoid going over the "fiscal cliff."

The 30-year fixed-rate mortgage fell 1 basis point to 3.58 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate mortgage rose 1 basis point to 2.88 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, rose 1 basis point to 4.08 percent.

The 5/1 adjustable-rate mortgage fell 1 basis point to 2.76 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

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